The chain of title is a record of all property owners from the original to the current one, and the transactions that have taken place. It is where you can look to see who has owned the property and how it was transferred. This is the first place to look if there are any claims on the title of your property, as you’ll have a starting point to trouble shoot and resolve the issue.
Included in the chain of title are all of the legal documents that impact a property’s ownership, use, and value. These documents include:
When buying or selling a property, you want to do a thorough review of the chain of title. If a title transfer is inaccurate, or there is a gap in the ownership history of the property, there is a break in the chain of title and someone may eventually make a claim to your land. And it can happen in multiple ways.
Each of these situations can result in a clouded title. Title insurance companies may also hesitate to take on this risk and decline to offer you coverage or charge you more. If you find out you have a break in the chain of title, don’t panic. There are steps you can take to fix it.
Having an accurate chain of title is one of the ways you can protect your property, so it is important to make sure there are no breaks. If you’re curious about yours, or you want to have a title search done, give us a call at (703) 934-2100 and we’ll be happy to assist.
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